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Bill Sponsor
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Bills
Senate Bill 1066
115th Congress(2017-2018)
Federal Adjustment in Reporting Student Credit Act of 2017
Introduced
Introduced
Introduced in Senate on May 8, 2017
Overview
Text
Introduced
May 8, 2017
Latest Action
May 8, 2017
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
1066
Congress
115
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Democrat
Gary Peters
Michigan
Republican
Shelley Moore Capito
West Virginia
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

Federal Adjustment in Reporting Student Credit Act of 2017 or the FAIR Student Credit Act of 2017

This bill amends the Fair Credit Reporting Act to allow a person to request the removal of a previously reported default regarding a qualified education loan from a consumer report if: (1) the lender chooses to offer a loan-rehabilitation program that requires a number of consecutive on-time monthly payments equal to the number of payments specified in a default reduction program under the Higher Education Act of 1965, and (2) the consumer of the loan successfully and voluntarily meets the requirements of that loan-rehabilitation program. A consumer may obtain such rehabilitation benefits only once per loan.

The Government Accountability Office shall report on any hurdles borrowers experience with the private loan-rehabilitation program.

Text (1)
Introduced in Senate
May 8, 2017
Related Bills (1)
May 24, 2018
Became Public Law 115-174
27
Sponsorship
Senate Bill 2155
Economic Growth, Regulatory Relief, and Consumer Protection Act
Became Law
Amendments
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Actions (2)
05/08/2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
05/08/2017
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:36:29 PM
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